Encouraged by some friends, I’ve been thinking about starting a DCA (Dollar Cost Averaging) strategy into Bitcoin, but I haven’t been able to get started yet. What would be the easiest platform with low fees to use? Automatic purchases aren’t a necessity since I’m fine with buying manually, but having that option would be a bonus.
The cheapest fees you will find on CEX platforms, but without knowing your country, the method of purchase, and the amount of DCA, you will not get an accurate answer (fees play a major role in profits.)
Note that the DCA strategy is a long-term strategy, but its results are good in a bear market and waiting for more than 3 years. However, if your strategy is for a year from now, you may incur losses.
Well, CEXes charge around 0.1%-0.2% as taker fees, and transferring accumulated BTC costs about $9-$10 on major platforms. I’ll definitely be DCAing for over a year, which is why I’ve been looking for reliable options. While CEXes seem like a favorable choice, the issue is that I can’t withdraw small accumulations to a hardware wallet as I will end up with non-spendable UTXOs. The main reason for starting this thread was to gather insights from fellow Bitcoiners and explore dependable alternatives.